MIRA INFORM REPORT
|
Report No. : |
341677 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
VENUS WIRE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
19, Raghuvanshi Mills Compound, S.B. Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra |
|
Tel. No.: |
91-22-24978840 / 30451000 / 24978839 / 30451001 / 30451000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.03.1990 |
|
|
|
|
Com. Reg. No.: |
11-055812 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.904 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1990PTC055812 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV04136G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV1421F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Stainless Steel Wire, Bars and
Bright Wire and Bars. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Venus Wires Industries Private Limited incorporated in the year 1990
is a part of the “Venus Group” of companies. It has established its position
as a leading SS wire manufacturer in the industry. The ratings takes into account on company strong financial risk
profile with improved operational performance with healthy profitability
margins and strong debt coverage metrics. The ratings continue to derive strength from the established track
record of the company and promoters wide experience in the manufacturing and
distribution of stainless steel (SS) long products in India. Trade relations are fair. Business is active. Payment terms are
reported as reported as regular and as per commitments. In view of experienced promoters, the company can be considered good
for business dealings at usual trade terms and conditions. |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating (A+) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
March 05, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating (A1+) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
March 05, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Pratik Sanghvi |
|
Designation : |
Director |
|
Contact No.: |
91-9819800348 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
19, Raghuvanshi Mills Compound, S.B. Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-24978840 / 30451000 |
|
Mobile No.: |
91-9819800348 (Mr. Pratik) |
|
Fax No.: |
91-22-24978846 / 30451045 |
|
E Fax No. (Mumbai): |
91-22-66459735 |
|
E Fax No. (USA): |
+ 001 208 4391355 |
|
E-Mail : |
Management: grsanghvi@venuswires.com Sales Enquiry: haresh@venuswires.com Quality Control: rkg@venuswires.com Shipping: shipping@venuswires.com Service Issues: support@venuswires.com |
|
Website : |
|
|
|
|
|
Factory / Sales
Office : |
Atkargaon, Takai -Adoshi, Khopoli – 410 203, Maharashtra, India |
|
Tel. No.: |
91-2192-304800 / 263404 / 262612 |
|
Fax No.: |
91-2192-268873 / 304850 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Babulal Parasmal Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat Nagar, Grant Road, Mumbai –
400 007, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1951 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01453687 |
|
PAN No.: |
AABPB2438G |
|
|
|
|
Name : |
Mr. Gheverchand Parasmal Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat Nagar, Grant Road, Mumbai – 400 007,
Maharashtra, India |
|
Date of Birth/Age : |
24.12.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01491771 |
|
|
|
|
Name : |
Mr. Motilal Parasmal Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat Nagar, Grant Road, Mumbai – 400 007,
Maharashtra, India |
|
Date of Birth/Age : |
19.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01601492 |
|
|
|
|
Name : |
Mr. Gheverchand Raghunath Sanghvi |
|
Designation : |
Director |
|
Address : |
D/1/16, Bharat Nagar, Grant Road, Mumbai – 400 007, Maharashtra, India
|
|
Date of Birth/Age : |
10.08.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01597211 |
|
|
|
|
Name : |
Mr. Hitesh Babulal Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat Nagar, Grant Road, Mumbai – 400 007, Maharashtra,
India |
|
Qualification : |
B. Com |
|
Date of Appointment: |
10.12.2005 |
|
DIN No.: |
01596934 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Babulal P. Bohra |
|
10010 |
|
Ghevarchand P. Bohra |
|
8510 |
|
Motilal P. Bohra |
|
11010 |
|
Gheverchand R. Sanghvi |
|
10210 |
|
Manju Indechand Surana |
|
500 |
|
Moolchand Sanghvi |
|
1000 |
|
Bacharaj Sanghvi |
|
1000 |
|
Bhavarlal S. Bohra |
|
1000 |
|
Ramesh B. Bafna |
|
1000 |
|
Hemant G. Bohra |
|
1000 |
|
Babulal P. Bohra and Shantaben B. Bohra |
|
11800 |
|
Hitesh B. Bohra |
|
1500 |
|
Haresh B. Bohra |
|
1500 |
|
Total
|
|
59040 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Wire, Bars
and Bright Wire and Bars. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
M.C. Doshi and Company Chartered Accountants |
|
Address : |
219, 2nd Floor, Panchsheel Plaza, “B” wing, Near Dharam Palace, Hughes Road, Mumbai 400007, Maharashtra , India |
|
Tel No.: |
91-22-40042032/40052033 |
|
Fax No.: |
91-22-23634876 |
|
Email : |
|
|
PAN
No.: |
AABPD5830G |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Relatives of Key
Management personnel and their Enterprises where transactions have taken
place : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59040 |
Equity Shares |
Rs.100/- each |
Rs. 5.904 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
5.904 |
5.904 |
5.904 |
|
(b) Reserves & Surplus |
1061.196 |
873.077 |
750.435 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1067.100 |
878.981 |
756.339 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
2.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
9.234 |
7.815 |
5.333 |
|
Total Non-current
Liabilities (3) |
9.234 |
7.815 |
7.833 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
277.771 |
435.837 |
177.866 |
|
(b) Trade
payables |
363.377 |
427.609 |
223.672 |
|
(c) Other
current liabilities |
39.725 |
35.985 |
48.619 |
|
(d) Short-term
provisions |
0.326 |
0.316 |
2.885 |
|
Total Current
Liabilities (4) |
681.199 |
899.747 |
453.042 |
|
|
|
|
|
|
TOTAL |
1757.533 |
1786.543 |
1217.214 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
162.638 |
139.623 |
134.707 |
|
(ii)
Intangible Assets |
1.784 |
1.452 |
2.419 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.576 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.595 |
1.595 |
1.595 |
|
(c) Deferred tax assets (net) |
9.024 |
9.905 |
8.343 |
|
(d) Long-term Loan and Advances |
20.386 |
15.460 |
1.025 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
195.427 |
168.035 |
148.665 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
285.360 |
381.992 |
251.467 |
|
(c) Trade
receivables |
698.064 |
732.769 |
449.340 |
|
(d) Cash
and cash equivalents |
74.660 |
65.114 |
48.572 |
|
(e)
Short-term loans and advances |
53.304 |
19.449 |
35.489 |
|
(f) Other
current assets |
450.718 |
419.184 |
283.681 |
|
Total
Current Assets |
1562.106 |
1618.508 |
1068.549 |
|
|
|
|
|
|
TOTAL |
1757.533 |
1786.543 |
1217.214 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Gross) |
2946.477 |
2697.411 |
2362.291 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
354.170 |
262.211 |
241.001 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.461 |
32.184 |
33.335 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
303.709 |
230.027 |
207.666 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.822 |
29.796 |
27.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
271.887 |
200.231 |
180.658 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
83.814 |
78.343 |
69.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
188.073 |
121.888 |
111.204 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
868.823 |
746.935 |
635.731 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1056.896 |
868.823 |
746.935 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3185.51 |
2064.49 |
1883.53 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
349.007 |
(99.577) |
216.978 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.38 |
4.52 |
4.71 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.02 |
9.72 |
10.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.56 |
11.28 |
14.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.26 |
0.50 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.29 |
1.80 |
2.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
5.904 |
5.904 |
5.904 |
|
Reserves & Surplus |
750.435 |
873.077 |
1061.196 |
|
Net worth |
756.339 |
878.981 |
1067.100 |
|
|
|
|
|
|
long-term borrowings |
2.500 |
0.000 |
0.000 |
|
Short term borrowings |
177.866 |
435.837 |
277.771 |
|
Total borrowings |
180.366 |
435.837 |
277.771 |
|
Debt/Equity ratio |
0.238 |
0.496 |
0.260 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales (Gross) |
2362.291 |
2697.411 |
2946.477 |
|
|
|
14.186 |
9.234 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales (Gross) |
2362.291 |
2697.411 |
2946.477 |
|
Profit |
111.204 |
121.887 |
188.073 |
|
|
4.71% |
4.52% |
6.38% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
The Company‘s performance was satisfactory during the year under consideration. Total sales for the year was of Rs. 2946.500 Million (Export Rs. 2345.900 Million) as against Rs.2697.400 Million (Export Rs. 2128.200 Million) in the previous year. The net profit after tax is Rs. 188.100 Million as compared to previous year’s figure of Rs. 121.900 Million. The result of this year was good compared to previous year.
FINANCE
The company has not obtained
any term loan for its expansion /backward integration but carried out the same
with internal Generation.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans taken for fixed assets |
3.042 |
0.000 |
|
|
|
|
|
Total |
3.042 |
0.000 |
INDEX OF CAHREGS:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90242494 |
27/02/2004 |
656,000.00 |
CENTURIAN BANK LIMITED |
322; SWASTIK CHAMBER, TROMBAY ROAD, MUMBAI, Maharashtra, INDIA |
- |
|
2 |
90242449 |
29/03/2007 * |
529,750,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRANCH, MAKER TOWER 'E', 9TH F |
- |
|
3 |
80008538 |
29/03/2007 * |
529,750,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRANCH, MAKER TOWER 'E', 9TH F |
- |
|
4 |
90242329 |
23/09/2004 * |
245,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH, MAKER TOWER ;CUFFE PARA |
- |
|
5 |
90242298 |
17/10/2000 |
30,000,000.00 |
SICOM LIMITED |
NIRMAL IST FLOOR, NARIMAN POINT, MUMBAI, Maharashtra, INDIA |
- |
|
6 |
90242259 |
04/12/2003 * |
154,875,000.00 |
CENTURIAN BANK LIMITED |
322; SWASTIK CHAMBER, TROMBAY ROAD, MUMBAI, Maharashtra, INDIA |
- |
|
7 |
90242190 |
10/06/1998 |
154,875,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH, MAKER TOWER ;CUFFE PARADE, MUMBAI,
Maharashtra, INDIA |
- |
|
8 |
90242079 |
15/04/1996 |
20,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH, MAKER TOWER ;CUFFE PARADE, MUMBAI,
Maharashtra, INDIA |
- |
|
9 |
90242017 |
10/06/1998 * |
44,300,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH, MAKER TOWER ;CUFFE PARADE, MUMBAI,
Maharashtra, INDIA |
- |
|
10 |
90242016 |
18/05/1994 |
8,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH, MAKER TOWER ;CUFFE PARADE, MUMBAI, Maharashtra,
INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Electrical Installations
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computers
Intangible Assets
- Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report: No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.92 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.72.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.